Gladstone Institutional Advisory LLC Makes New $382,000 Investment in Targa Resources Corp. (NYSE:TRGP)

Gladstone Institutional Advisory LLC bought a new stake in shares of Targa Resources Corp. (NYSE:TRGP) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,582 shares of the pipeline company’s stock, valued at approximately $382,000.

Other large investors have also recently made changes to their positions in the company. Buckley Wealth Management LLC increased its holdings in Targa Resources by 0.7% during the third quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company’s stock worth $1,469,000 after buying an additional 65 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Targa Resources by 9.8% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 934 shares of the pipeline company’s stock worth $138,000 after purchasing an additional 83 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Targa Resources by 1.0% in the 2nd quarter. Fifth Third Bancorp now owns 8,911 shares of the pipeline company’s stock worth $1,148,000 after purchasing an additional 89 shares during the period. Catalina Capital Group LLC lifted its stake in Targa Resources by 3.4% in the second quarter. Catalina Capital Group LLC now owns 3,043 shares of the pipeline company’s stock valued at $392,000 after purchasing an additional 99 shares during the last quarter. Finally, &PARTNERS grew its holdings in Targa Resources by 1.1% during the second quarter. &PARTNERS now owns 10,107 shares of the pipeline company’s stock valued at $1,302,000 after purchasing an additional 107 shares during the period. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TRGP. Bank of America initiated coverage on Targa Resources in a research note on Thursday, October 17th. They issued a “buy” rating and a $182.00 target price on the stock. Truist Financial upped their price objective on shares of Targa Resources from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, August 5th. Royal Bank of Canada lifted their target price on shares of Targa Resources from $153.00 to $172.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Argus raised shares of Targa Resources to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Scotiabank lifted their price objective on shares of Targa Resources from $128.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 17th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $152.79.

Insider Activity at Targa Resources

In other Targa Resources news, Director Paul W. Chung sold 916 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $136.35, for a total value of $124,896.60. Following the completion of the transaction, the director now owns 238,591 shares of the company’s stock, valued at $32,531,882.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Targa Resources news, insider Gerald R. Shrader sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $136.06, for a total value of $408,180.00. Following the completion of the sale, the insider now owns 29,603 shares of the company’s stock, valued at $4,027,784.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul W. Chung sold 916 shares of Targa Resources stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $136.35, for a total transaction of $124,896.60. Following the transaction, the director now directly owns 238,591 shares in the company, valued at $32,531,882.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 174,321 shares of company stock valued at $26,654,881 over the last three months. 1.39% of the stock is owned by corporate insiders.

Targa Resources Price Performance

NYSE:TRGP opened at $169.20 on Tuesday. Targa Resources Corp. has a 52-week low of $81.03 and a 52-week high of $169.92. The stock has a fifty day moving average of $155.70 and a 200 day moving average of $136.39. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.53 and a current ratio of 0.65. The firm has a market capitalization of $37.07 billion, a price-to-earnings ratio of 35.62, a P/E/G ratio of 1.29 and a beta of 2.24.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Thursday, October 31st. Targa Resources’s dividend payout ratio (DPR) is 63.16%.

Targa Resources Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.